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Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

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Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

Last updated: October 10 2017
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  • Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

    Anyone has purchased flat in Hiranandani - Egattur, OMR project?

    Please share your experience.

    What was their launch price and current price?

    Anything special in their sea facing view appartments? What are the pros & cons if we prefer this - in Vastu or Scintific angle?

    Is it worth to go for purchase now both in investment angle as well as for immediate occupation?
  • #2

    #2

    Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

    check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.

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    • #3

      #3

      Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

      https://picasaweb.google.com/1063269...i?noredirect=1#

      Hira pictures from another public forum

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      • #4

        #4

        Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

        Originally posted by rameshyahoo View Post
        check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.
        Who to contact and where to get this details?

        Why there has to be this difference in rate?

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        • #5

          #5

          Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

          Originally posted by rameshyahoo View Post
          check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.
          Who to contact and where to get this details?

          Why there has to be this difference in rate?

          Comment

          • #6

            #6

            Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

            70 L may be bare cost. Amenities may be extra

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            • #7

              #7

              Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

              Originally posted by din132 View Post
              Who to contact and where to get this details?

              Why there has to be this difference in rate?
              Here is a suggestion I gave another investor.

              I would avoid the resale market unless they are discounted by 15% or more of the current price.

              Here is the big reason why resale should be cheaper than original booking.

              The original buyer pays a very low stamp duty + reg, (9% of UDS value) which for 3-bhk is in the range of 50K. Low UDS helps the first buyer.
              If you are buying a RTM (ready to move) apt you will have to pay 9% of the total purchase price, not just the UDS value. So it could be another 10L for a 1.1C apt.

              My suggestion is you should look at a fresh booking for phase 2 like Amalfi or something similar.
              Pay the 20-30% downpayment. Rent an Apt in phase I which has been handed over recently. Rents are extremely cheap and the original owner would have paid for first few months of maintainance. Hira will start charging full maintainance later.
              I see ads for 25-30K for rent in phase I. 25K with maintainance for a 3-bhk is an awesome value.
              The interest money that you save by going for under construction property will easily cover your rent and you might have enough left over to buy a luxury car or use it for furnishing later.
              If you are buying resale you have to pay full amount at once, there is no benefit.

              If you are buying new, for 3-bhk lets say the price is 1.2C, you pay 20% down that is 24L. 10% during foundation which will take 6 months, 12L. So in 1 yr your outgo is only 36L.
              The other 84L would have earned an interest of 8.4L, which is more than enought to cover 3L rent (25K X 12), you will have 5L left over in first year itself. By the time the construction completes in 3 years you would have saved 20-25L easily in interest costs.
              If the apt is not registered and handed over, Hira charges 500 transfer charge that makes up for the stamp duty difference.
              If it was me, I would advise people to go for a fresh booking in Hira.

              Resale units are worth only when there is a big discount, like more than 20%.

              Comments are welcome, if you think my numbers are off.

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              • #8

                #8

                Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

                i agree on the rental part. another point is if you have the cash make an offer to the second seller. talk to brokers and u will get many investors sitting on their flats eager to exit. if u want slabwise payment then go with the builder. assume 2 years delay. so loss of interest of 20L if u pay 1CR for slabwise 95% payment. there is no escape from the clutches of the builder
                Last edited August 9 2012, 01:20 PM.

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                • #9

                  #9

                  Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

                  When the Tiana project was launched for sale at early stages, the flats were sold without any escalation clause. In escalation clause, HOH would charge extra for construction material price rise. This is variable and not controllable by buyer. Those who are buying now, escalation is mandatory. But buyers who bought at early stages are being forced to accept escalation although no such term was agreed. Just unprofessional business, no ethnics.

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                  • #10

                    #10

                    Re : Hiranandani Bayview, House of Hiranandani, Egattur, OMR - Chennai

                    Pls don't buy flats here.They are cheating people.Check this link https://www.change.org/p/prime-minis...edium=whatsapp Showing the school they have cheated all of us. Too many internal issues.
                    Last edited November 4 2016, 05:43 AM. Reason: clubbed

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